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Brief Project Description:
I propose to outfit two existing women’s groups into Village Savings and Loans Associations. The two groups were originally formed as adult literacy training initiatives. Both groups are based in an island community situated in the middle of Lake Nokoué. Participants will pool their savings together and place the sum in a collectively-owned cash box. The sum will then be used as a fund which can be loaned out to members of the group in order to finance income generating activities. Loans will then be repaid to the fund with interest. This collective savings scheme will allow each member of the group to financially leverage their savings against those of the other members. At the end of the period, each member will receive back their savings along with their prorated amount of earnings from interest accrued on loans.
The association’s activities will be overseen primarily by “ONG Benin-Alafia”, a Porto Novo based NGO and the organization responsible for originally forming the two women’s groups. By integrating Benin-Alafia in the activity I hope to permit group members to profit from the project’s benefits as well as to strengthen the NGO’s ability to manage these types of associations and conceivably create new ones in the future.

Dates of Project: 01/07/10 – 01/07/11

Number of People Involved: Each women’s group has 12 members (24 total) who will be participating. There is also a representative of “ONG Benin Alafia” who lives in the community full-time and will act as a facilitator for the associations.

Budget:

Item

Number

Unit Price

Cost

Cash Box

2

15.000 CFA

30.000 CFA

Calculator

2

2.500 CFA

5.000 CFA

Ruler

2

350 CFA

700 CFA

Ink Pad

2

1.000 CFA

2.000 CFA

Pen

4

100 CFA

400 CFA

Rubber Stamp

2

1.500 CFA

3.000 CFA

Notebook

2

100 CFA

200 CFA

Padlock

6

1.000 CFA

6.000 CFA

Fabric Bag

4

500 CFA

2.000 CFA

Plastic Bowl

4

100 CFA

400 CFA

Total Cost

49.700 CFA

Amount Requested: 49.700 CFA

Comments

GAD Coordinator: GAD Coordinator: I like that he’s gotten an NGO involved, which will increase sustainability of the project. How has he trained the NGO on the VSLA methodology? What is the gender of the representative involved? And how long will he be in Benin to follow up on the progress of the two groups? Once questions are answered, recommend funding.

GAD Finance: GAD Finance: I also like that the NGO will be overseeing the project and he is only acting as an intermediary between the NGO and women. Just out of curiosity, what kind of work does this NGO normally do? The age breakdown of the participants should be included. I think he will COS in mid-September. Recommend funding once questions are answered.